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U.S. sovereign bond prices were slightly lower Wednesday as investors digested a second day of testimony by Federal Reserve Chair Janet Yellen and a seven-year notes sale.
The Treasury Department auctioned $28 billion in seven-year notes at a high yield of 1.49 percent on Wednesday.
The bid-to-cover ratio, an indicator of demand, was 2.56, above a recent average of 2.50.
Indirect bidders, which include major central banks, were awarded 65.6 percent, above an average of 59 percent. Direct bidders, which includes domestic money managers, bought 9.1 percent, below an average of 14 percent.
The yield on the 10-year Treasury note, which moves inversely to its price, traded at 1.687 percent, while the yield on the 30-year Treasury bond was lower at 2.4985 percent. Two-year note yields were about flat at 0.75 percent.
Investors were also counting down the hours to Britain's referendum, with polls set to open Thursday morning.
Fed Chair Janet Yellen appeared before politicians for a second day Wednesday, testifying in front of the House Committee on Financial Services.
Yellen testified to a Senate panel on Tuesday, where she warned that a Brexit could usher in an era of uncertainty and suggested that an interest rate hike may wait for a boost in hiring numbers.
On the data front, U.S. home resales rose in May to a more than nine-year high as improving supply increased choice for buyers, suggesting the economy remains on solid footing despite a sharp slowdown in job growth last month.
The National Association of Realtors said on Wednesday existing home sales increased 1.8 percent to an annual rate of 5.53 million units last month, the highest level since February 2007.